Charles Schwab (NYSE:SCHW) Price Target Raised to $100.00 at Truist Financial

Charles Schwab (NYSE:SCHW) had its price target raised by Truist Financial from $97.00 to $100.00 in a research note published on Monday,Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

SCHW has been the topic of a number of other reports. Keefe, Bruyette & Woods upped their target price on shares of Charles Schwab from $90.00 to $93.00 and gave the company an “outperform” rating in a report on Tuesday, April 22nd. Piper Sandler upped their price objective on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. UBS Group raised their price objective on Charles Schwab from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, April 22nd. The Goldman Sachs Group raised Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Friday, April 25th. Finally, Cowen reaffirmed a “buy” rating on shares of Charles Schwab in a report on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.40.

Charles Schwab Stock Up 1.8%

SCHW stock opened at $88.95 on Monday. The company has a market cap of $161.61 billion, a price-to-earnings ratio of 29.75, a P/E/G ratio of 0.99 and a beta of 0.94. Charles Schwab has a twelve month low of $61.01 and a twelve month high of $89.85. The business has a 50 day moving average price of $83.69 and a two-hundred day moving average price of $79.88. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the prior year, the firm posted $0.74 EPS. Analysts anticipate that Charles Schwab will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 annualized dividend and a dividend yield of 1.21%. Charles Schwab’s dividend payout ratio is presently 32.73%.

Insider Activity at Charles Schwab

In related news, Director Frank C. Herringer sold 3,592 shares of the business’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $74.26, for a total value of $266,741.92. Following the completion of the transaction, the director now owns 172,162 shares of the company’s stock, valued at $12,784,750.12. The trade was a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan M. Craig sold 9,559 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $82.00, for a total transaction of $783,838.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,608 shares of company stock worth $8,392,040. Company insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Atwood & Palmer Inc. bought a new position in Charles Schwab in the first quarter valued at about $25,000. Westside Investment Management Inc. grew its holdings in shares of Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 150 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its position in Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 191 shares in the last quarter. Stone House Investment Management LLC bought a new position in Charles Schwab in the 1st quarter valued at approximately $31,000. Finally, Activest Wealth Management boosted its position in Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after buying an additional 399 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Company Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.